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Brits Spending £1.8 Nillion Each Year On Wedding-holiday Combos

29 March 2011

Nearly 8 million Brits have travelled abroad to attend a wedding in the last five years, spending an average of £1,139 each on travel, accommodation, gifts and special wedding outfits, according to new research(1) from Sainsbury’s Travel Insurance.  This adds up to a whopping £8.9 billion spend over the past five years or £1.8 billion each year.

And the trend for weddings abroad looks set to continue with nearly 500,000 Brits saying that they have made plans to have their own wedding abroad in the near future and just over 1.5 million people saying they have made plans to attend one as a guest.

Over one million people (14%) who have been to a wedding abroad in the past five years claim they spent more than £2,500 and just over 500,000 (7%) spent over £4,000. These amounts include spend on travel and accommodation by the happy couples themselves, but not the cost of their big day or honeymoon.

Despite the expense of such trips, the supermarket bank’s research reveals that nearly a third (29%) of those travelling abroad for a wedding, including many brides and grooms, do not take out travel insurance. This oversight is leaving many exposed to significant financial losses should they or a member of their party fall ill and be unable to travel or they suffer from lost or stolen baggage.

The main reason people gave for not taking out travel insurance for their wedding-holiday combo is that they don’t want the added expense (35%). This is followed by the fact that it is only a short trip abroad so they didn’t think it was necessary (22%) and the chances of having to make a claim are small (18%). Just over one in ten (13%) say that they didn’t consider it to be a real holiday so it didn’t occur to them to take out insurance.

Scott Gorman at Sainsbury’s Travel Insurance comments: “Weddings abroad are popular and the cost of these overseas celebrations are clearly far more expensive than just a typical holiday, so it’s even more important for couples – and guests – to ensure they are fully protected well before they travel. Should the unimaginable happen, having no travel insurance could make the big day memorable for all the wrong reasons.”

Londoners are the most likely to go abroad for a wedding with 25% saying they have been as a guest in the past five years. By contrast, just 7% of people living in the East Midlands and 9% of Scots have been to an overseas wedding during this period.

Reason for going without travel insurance when going to / having a wedding abroad(1)

Reason for going without travel insurance As a percentage of those going to weddings abroad without travel insurance Number of people
Didn’t want the added expense 35% 944,000
It was only a short trip, so didn’t think it was necessary 22% 596,000
Thought the chances of having to make a claim were small 18% 472,000
Didn’t consider it a holiday so it didn’t occur to me 13% 336,000
Ran out of time and didn’t organise it 7% 185,000
In the excitment of the wedding preparations I forgot 5% 147,000

Source: Sainsbury’s Travel Insurance

For those planning a few trips abroad, a holiday as well as the wedding maybe, multi-trip travel insurance could work out cheaper. Sainsbury’s multi-trip travel insurance offers:

To obtain a Sainsbury’s Travel Insurance quote you can log ontowww.sainsburysfinance.co.uk or call 0800 316 1452.  Lines are open 8am – 8pm Monday to Friday, 8am – 7pm Saturday, and 9am – 5pm on Sunday.

– Ends –

For further information, please contact:

Sarah Rowan / Sophie Woodcock
Citigate Dewe Rogerson
020 7282 1049 / 1072

Notes to editors:

(1) Research commissioned by Sainsbury’s Finance and carried out by ICM Research.  2003 British adults were questioned via online omnibus between 11th and 13th March 2011.
(2) To receive your 1/3 off online discount go towww.sainsburysfinance.co.uk and remember to have your Nectar card number ready

Sainsbury’s Finance:

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Sainsbury’s was the first major British supermarket to open a bank, commencing trading in February 1997. Benefiting from a fantastic, trusted brand that enables us to combine the shopping experience with personal finance, Sainsbury’s Finance provides a range of quality products including insurances, credit cards, savings and loans. Our proposition is to make shopping more rewarding by offering customers great products at fair prices, while consistently rewarding shoppers for their loyalty and being easy to do business with at all times.  Our products consistently top Best Buy tables and regularly win awards for quality, price and service.

Sainsbury’s Finance recent awards include Best Overall Online Provider, Best Direct Personal Loans Provider, Best Online Credit Card Provider, Best Online Life Insurance Provider at the Your Money Awards 2010.

Sainsbury’s Finance is a joint venture between J.Sainsbury plc and Lloyds Banking Group.

For further information and general Sainsbury’s Finance enquiries customers can call the freephone number on 0500 40 50 60 or visit www.sainsburysfinance.co.uk

Sainsburys Finance Travel Insurance is arranged and administered by FirstAssist Insurance Services Limited on behalf of the insurer, Great Lakes Reinsurance (UK) PLC.

FirstAssist Insurance Services Limited (FISL) is one of the UK’s leading providers of tailored, flexible white-label specialist insurance solutions and has recently been named as one of the UK’s fastest growing companies in the Sunday Times ‘Buyout Track 100’.

FISL has five key areas of insurance expertise: travel, protection, budget health, legal protection and small business, covering over 2m people in the UK. Driven as a specialist business by an entrepreneurial, commercial management team, FISL provides a unique range of products and marketing solutions for Banks, Insurers, Affinity Organisations, Corporates, Intermediaries and SMEs.

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